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Swipe fees have been a source of simmering hostility between merchants and card issuers for years.
Unlike Moody's and Standard & Poor's, Mr. Egan's agency takes fees from investors, not issuers, for its research.
But merchants are usually obliged to reimburse credit card issuers for the actual cost of the goods sold.
Airline miles and similar benefits can be bought in bulk by card issuers for a fraction of their cash value.
Like other central banks, it has been quietly taking on fewer bonds from the American Treasury and more from other issuers for some time anyway.
It should stop billing issuers for failed auctions and should recommend that they redeem securities at fair value in the marketplace.
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No agency would be able to work with an issuer for more than six years in a row.
But the Sarbanes-Oxley Act required that company managements publish in annual reports an assessment "of the internal control structure and procedures of the issuer for financial reporting".
A credit card issuer, for instance, could ask Acxiom to help aim a campaign for elite-level cards with concierge services at people above a certain income who live in certain suburbs or drive luxury cars.
[C3.] British Bank to Buy a U.S. Credit Card Issuer HSBC Holdings, the British bank, said it planned to buy the Metris Companies, an independent credit card issuer, for $1.59 billion in the third acquisition of a credit card company in the past few months.
Capital One, another big issuer, for example, has aggressively shut down inactive accounts and reduced customer credit lines by 4.5percentt in the second quarter from the previous period, according to regulatory filings.
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CEO of Professional Science Editing for Scientists @ prosciediting.com